CAMDEN PROPERTY TRUST (CPT): debt financing — Camden Property Trust issues $500M of 5.850% Notes due 2026, net proceeds ~$496.9M

CAMDEN PROPERTY TRUST

Issued $500M aggregate principal of 5.850% Notes due November 3, 2026.
Net proceeds of approximately $496.9M after underwriting discounts and expenses.
Proceeds to repay portion of unsecured revolving credit facility and for general corporate purposes.
Notes redeemable at any time at make-whole premium; after one month prior to maturity at par.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

CAMDEN PROPERTY TRUST incurred senior notes of $500,000,000 aggregate principal amount with BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc. at 5.850% maturing November 3, 2026.

Instrument: senior notes
Principal: $500,000,000 aggregate principal amount
Counterparty: BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc.
Rate: 5.850%
Maturity: November 3, 2026
Event: incurrence

Exact text from the filing

pursuant to which the Company agreed to issue and sell to the Underwriters $500,000,000 aggregate principal amount of its 5.850% Notes due 2026

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CAMDEN PROPERTY TRUST entered into Underwriting Agreement with BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc., for themselves and Representatives of the several Underwriters named therein valued at $500,000,000 (effective 2023-10-31).

Action: entry
Agreement: notes offering
Counterparty: BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc., for themselves and Representatives of the several Underwriters named therein
Value: $500,000,000
Effective: 2023-10-31

Exact text from the filing

On October 31, 2023, Camden Property Trust, a Texas real estate investment trust (the “Company”), entered into an underwriting agreement (the “Underwriting Agreement”) with BofA Securities, Inc., J.P. Morgan Securities LLC, PNC Capital Markets LLC, Truist Securities, Inc. and U.S. Bancorp Investments, Inc., for themselves and Representatives of the several Underwriters named therein (the “Underwriters”), pursuant to which the Company agreed to issue and sell to the Underwriters $500,000,000 aggregate principal amount of its 5.850% Notes due 2026 (the “Notes”)

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CAMDEN PROPERTY TRUST filing history →

Source: SEC EDGAR

accession 0001193125-23-270256

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